UNIVERSITY OF KANSAS, SCHOOL OF BUSINESS ACCOUNTING INTERNSHIP PROGRAM COURSE OVERVIEW & LOGISTICS

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1 DESCRIPTION UNIVERSITY OF KANSAS, SCHOOL OF BUSINESS ACCOUNTING INTERNSHIP PROGRAM COURSE OVERVIEW & LOGISTICS The Internship in Accounting (ACCT 599 or ACCT 799) courses are designed to promote internships related to the accounting and information systems major through the opportunity to earn business elective credit. These internships allow students to apply skills acquired and developed through the School of Business curriculum in meaningful real world job experiences. Through these experiences, students receive the business acumen needed to get a jump-start on their careers. ELIGIBILITY A student must complete at least two of the following courses prior to the semester in which he or she interns: MKTG 310, SCM 310, FIN 310, and MGMT 310. Any exceptions must receive the approval of the Director of the Internship Program. The Director of the Internship Program must approve the internship work experience, as discussed in Registering for the Course below. It is important to note that many potential jobs do not meet the standards established for internship credit. For example, a position that does not substantially require as a prerequisite the knowledge base gained through the junior level core courses would not qualify. CREDIT The student earns 1, 2, or 3 hours of Advanced Business Elective credit. Positions can be paid or unpaid, part-time or full-time. Differences in credit hours are based on the duration of meaningful work activity. Part-time internships are eligible for 1 hour of credit. Full-time internships are eligible for 2 or 3 hours of credit depending on the length of the internship. Generally, an 8-week full-time internship will be granted 3 hours of credit. Course requirements do not differ for part or full-time internships. Students cannot enroll in subsequent for-credit internships to satisfy any undergraduate business degree requirement. However, students are welcome to participate in multiple not-for-credit internships. Therefore, accounting students can use internships to count for credit only twice in their academic career: once in the undergraduate program (ACCT 599) and once in the MAcc program (ACCT 799). 350A Summerfield Hall kacrabb@ku.edu 1

2 REGISTERING FOR THE COURSE The procedure outlined below must be followed to receive approval for the internship and enroll in the course. 1. The student submits the following documents to the Internship Program Director: Accounting Internship Petition Form; Accounting Internship Program Application; Current Degree Requirements Checklist; Current resume; and A one-page description of the internship duties and responsibilities. In cases where the internship is well defined, (e.g., an audit or tax internship in a Big 4 public accounting firm or a large regional firm, such as Grant Thornton or Koch Industries), the one-page description is not required. See the Director of the Internship Program for clarification on specific internship approval requirements. 2. The Director of the Internship Program notifies the student of approval or disapproval of the internship, and, if approved, determines the appropriate amount of credit to award. Please note that applications for the internship course will not be approved for an internship that has been completed or is currently in progress. 3. If approved, the Director of the Internship Program completes the Accounting Internship Petition Form that authorizes registration in the course for a specified number of credit hours. 4. The Accounting Internship Petition Form is sent to the advisement office by the Director of the Internship Program. 5. The student received an from the advisement office with permission to enroll in ACCT 599 or ACCT 799. The student then follows the standard process for enrolling in a course online. 350A Summerfield Hall kacrabb@ku.edu 2

3 REQUIREMENTS A student s grade is based upon the following: Participation in the virtual welcome orientation; Five reflective assignments; Performance evaluation completed by the employer; and Completion of the wrap-up survey. Welcome Orientation 50 Points 5% Students review a virtual pre-internship Welcome Orientation video intended to prepare you for the upcoming internship experience and academic requirements of the course. The orientation is available on Blackboard as students enroll in the course. To promote a supportive environment and sense of Jayhawk community, students are to post a new thread in the Welcome Orientation forum on the Blackboard discussion board addressing the following items: Where are you interning? What area are you interning in (e.g. tax, audit, etc.)? What is one goal you have for your internship experience? What is one question or fear you have about interning? Finally, after posting your thread, read and comment on a fellow intern s post. Reflective Assignments 750 Points 75% The student completes five reflective assignments, designed to help the student make the most of this professional experience. These written assignments include: An evaluation of the student s professional goals and a roadmap to achieve one of these goals; A challenge to not only clean up social media profiles, but use them to connect with the professional world; Selection of a mentor or role model, and discussion of key characteristics to model; Reflection on a mistake made during your internship, and how it could have been handled differently; and Student s evaluation of overall performance by reflecting on the goals established in Assignment 1. Employer Performance Evaluation 150 Points 15% Respective employers complete performance evaluations on interns, distributed directly to employers by the Director of the Internship Program. Wrap-up Survey 50 Points 5% The students complete a wrap-up survey, intended to act as a guide for future interns and Accounting and Information Systems faculty. 350A Summerfield Hall kacrabb@ku.edu 3

4 MONITORING / PROBLEM RESOLUTION Throughout the semester, the Director may contact interns or employers to monitor the internship experience. This should in no way be interpreted negatively, rather as an effort to maintain a quality program through continuous feedback. However, should a problem occur from the perspective of either the student or employer, the Director of the Internship Program should be contacted immediately. BENEFITS OF AN INTERNSHIP A primary benefit of an internship in accounting is the student s dedicated focus to career objectives, thereby providing valuable insight into career goals. For example, an accounting student deliberating between a tax and audit career can use an internship experience to determine which career track they prefer. Another benefit is the paradigm-shift from an academic perspective to a business one. For the first time, students begin to think holistically about their schoolwork, and the role it plays in corporate goals and missions. In addition to the work requirements of the internship, students are expected to analyze other departments and the business as a whole. This develops contacts throughout the company, any of which could lead to a potential job offer. Academically, students benefit from internships as well. A study done by Denise English and David Koeppen found that internship students perform significantly better than non-internship students in both accounting courses and overall GPA in semesters subsequent to the internship semester. 1 Additionally, internships lead to enhanced classroom interaction, in which students share examples from the business world experienced through their internship. An internship in accounting provides these additional benefits to the student: Increased professional skills and confidence; Greater familiarity with the business environment, including enhanced knowledge of business processes, specific industries, organizations, occupations, and positions; Deeper appreciation of the key role of communication skills in the business world; Greater insight into the interactions between people and amongst teams, a critical factor in business success at all levels; Further refinement of personal goals and aspirations, including the ability to match career and employment choices with personal values and abilities; Expanded network of business professionals; Increased relevancy of subsequent coursework; Full-time job offers; and Greater ability to hit the ground running on the student s first job. 1 "The Relationship of Accounting Internships and Subsequent Academic Performance," Issues in Accounting Education (Fall, 1993) pp A Summerfield Hall kacrabb@ku.edu 4

5 OBTAINING AN INTERNSHIP The Business Career Services Center, located in 125 Summerfield, is a valuable resource in the internship search. Students should make an appointment with Career Services to ascertain options and opportunities. However, the number of internships available through Career Services often does not meet the demand from students. Therefore, students should aggressively pursue other opportunities. Suggestions for potential resources are: Career Fairs; The Book of Lists which outlines companies in most major cities across the U.S. available in the Business Career Services Center; Internet job sites (be sure to look on KU Career Connections as well as additional job search sites linked to the BCSC website); Internet student sites, such as StudentUniverse.com; KU and School of Business alumni through LinkedIn.com (you can join a KU School of Business group); KU and School of Business faculty; Personal networking and contacts; Student organizations; and AIESEC for international internships only, located in 508 Summerfield. 350A Summerfield Hall kacrabb@ku.edu 5